The average asking rent for residential properties in the United Kingdom reached a record high of £1,397 per month in the second quarter of the year, according to data from the property website Rightmove. This marks the highest recorded level for advertised private rents across the country.

Outside of London, the average rent for newly marketed homes increased by 1.9% compared to the first quarter, and rose by 2.3% compared to the same period last year. The supply of rental properties showed a slight decline, with the number of homes available to rent down by 1% from a year earlier.

In London, the rental market saw a sharp rise as well, with the average advertised rent climbing 2% to reach a new peak of £2,791 per month. This continues a trend of increasing rental prices in the capital, where demand remains strong despite the high cost.

The figures suggest a tightening rental market, with limited availability contributing to upward pressure on rents. The persistent increase in average asking prices reflects ongoing challenges for tenants seeking housing across the UK.